International

The European Union is backtracking on its plan to prohibit the sale of new combustion-engine passenger cars after 2035, as the de facto ban came under fire from major carmakers and strong auto industry lobbies in Germany and Italy. The EU’s executive arm, the European Commission, is expected on Tuesday …

Coal- and gas-fired power generation in China is on course for an annual decline for the first time since 2015, unless demand surges this month. Over the first 11 months of the year, electricity generated from coal and gas plants ticked down by a modest 0.7%, Bloomberg reported today, citing …

Global oil demand will rise by about 1.4 million barrels per day (bpd) next year, supported by solid economic growth, OPEC said in its monthly report ton Thursday, keeping its demand forecasts unchanged from last month. Unlike other forecasters, investment banks, and analysts, OPEC continues to expect robust demand growth …

Crude flow from Lukoil’s West Qurna-2 storage tanks has resumed toward the major Tuba depots after a weekend shutdown, two energy sources told Quantum Commodity Intelligence. Full field operations are expected to be restored between 1 a.m. and 2 a.m., following a precautionary halt triggered by a pipeline leak. West …

India is close to opening its nuclear power sector to private investment as it seeks to boost installed nuclear capacity tenfold by 2047, which is estimated to cost $214 billion (19.28 trillion Indian rupees). The bill to open the nuclear energy sector to private investment is expected to be passed …

India has not taken any decision about expanding its massive coal-fired power generation fleet beyond 2035, the country’s power ministry secretary, Pankaj Agarwal, told Reuters this weekend. “India wants to secure its energy requirements,” Agarwal told Reuters on the sidelines of an event, adding that as on 2035, India aims …

India’s solar sector has hit that awkward stage of adolescence where ambition seems to be outpacing demand. And now the adults in the room are issuing critical warnings. A new letter from the clean-energy ministry, quietly circulated to the finance ministry, urges lenders to think twice before showering cash on …

A loss of Venezuelan oil production in case of a U.S. military intervention will materially impact global benchmark prices as the market will have to replace Venezuela’s heavy crude—the bulk of Caracas’ crude exports, according to Rystad Energy. Venezuela is estimated to pump about 1.1 million barrels per day (bpd) …

Kazakhstan’s oil output has fallen sharply after damage at the Caspian Pipeline Consortium (CPC) export terminal disrupted flows, tightening supplies from one of OPEC+’s largest non-core contributors and forcing operators to curtail production, Reuters reported on Thursday. Output dropped in the first two days of December after storms and structural …

As concerns mount about looming heating and electricity shortages in Kyrgyzstan this winter, Kazakhstan and Uzbekistan have pledged to help Bishkek avert a crisis. Fears about shortages stem from extremely low water levels in the Toktogul reservoir, a major source of hydropower in Central Asia, as well as for water …